Arjuna Capital Purchases 5,959 Shares of The Progressive Co. (NYSE:PGR)

Arjuna Capital grew its position in The Progressive Co. (NYSE:PGR) by 92.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,384 shares of the insurance provider’s stock after acquiring an additional 5,959 shares during the quarter. Arjuna Capital’s holdings in Progressive were worth $2,967,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PGR. Atlantic Edge Private Wealth Management LLC boosted its stake in Progressive by 54.7% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after buying an additional 41 shares in the last quarter. LRI Investments LLC boosted its position in shares of Progressive by 16.5% during the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after acquiring an additional 42 shares in the last quarter. SYM FINANCIAL Corp increased its stake in Progressive by 2.8% in the fourth quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock valued at $384,000 after acquiring an additional 44 shares during the period. Monument Capital Management raised its position in Progressive by 0.3% in the fourth quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock worth $3,298,000 after purchasing an additional 44 shares in the last quarter. Finally, Kelleher Financial Advisors lifted its stake in Progressive by 4.7% during the fourth quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider’s stock worth $238,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Activity at Progressive

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Susan Patricia Griffith sold 9,066 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $2,194,878.60. Following the transaction, the chief executive officer now owns 473,736 shares in the company, valued at approximately $114,691,485.60. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,361 shares of company stock worth $14,102,075 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Progressive Stock Down 0.5 %

NYSE PGR opened at $279.77 on Friday. The stock has a market capitalization of $163.89 billion, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 1.70 and a beta of 0.42. The Progressive Co. has a 52 week low of $194.49 and a 52 week high of $287.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The stock has a fifty day moving average of $254.23 and a 200-day moving average of $252.60.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. On average, equities research analysts forecast that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is 2.78%.

Analysts Set New Price Targets

PGR has been the subject of a number of recent research reports. TD Cowen increased their target price on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Bank of America increased their price objective on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price on the stock in a research note on Thursday, December 26th. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Roth Mkm lifted their price target on shares of Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $277.59.

About Progressive

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.